Purchase of land for the Tectubi Raccordi China plants

18th December 2007: contract signed for the purchase of 68,000 square meters of land in Tianjin, in the District of Dong Li, where the Tectubi Raccordi China plant will stand.

Those present were:

Mr.Valter Alberici, President of ALLIED GROUP

Mr.Camillo Carrà, General Manager of Tectubi Raccordi China

the Legal Consultant, avv. Sara Marchetta.

and the local authorities:

Mr. Zhang, Secretary of CPC

Mr. Shang, Governor.

The construction of the plant, which foresees the recruitment of 200 employees, will start in March 2008, while the production cycle will start at the end of 2008, after which it will gradually be brought to a total production of 15,000 tonnes a year of the following fittings: